Nuvalent, Inc. $NUVL Shares Acquired by Walleye Capital LLC

Walleye Capital LLC lifted its stake in Nuvalent, Inc. (NASDAQ:NUVL) by 182.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,207 shares of the company’s stock after buying an additional 13,709 shares during the period. Walleye Capital LLC’s holdings in Nuvalent were worth $1,618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NUVL. Covestor Ltd boosted its stake in Nuvalent by 705.7% in the first quarter. Covestor Ltd now owns 983 shares of the company’s stock valued at $70,000 after acquiring an additional 861 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Nuvalent in the 2nd quarter valued at about $88,000. Farther Finance Advisors LLC boosted its position in shares of Nuvalent by 9,230.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,213 shares of the company’s stock valued at $93,000 after purchasing an additional 1,200 shares during the period. CWM LLC grew its stake in Nuvalent by 253.8% during the 2nd quarter. CWM LLC now owns 1,486 shares of the company’s stock worth $113,000 after buying an additional 1,066 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Nuvalent by 38.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,632 shares of the company’s stock valued at $125,000 after buying an additional 451 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

Nuvalent Price Performance

NUVL opened at $105.09 on Wednesday. Nuvalent, Inc. has a 12 month low of $55.53 and a 12 month high of $112.88. The stock has a market capitalization of $7.64 billion, a P/E ratio of -19.75 and a beta of 1.31. The business has a 50 day simple moving average of $97.35 and a 200-day simple moving average of $85.02.

Nuvalent (NASDAQ:NUVL) last released its quarterly earnings data on Thursday, October 30th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.31). During the same period in the previous year, the firm posted ($1.28) earnings per share. Research analysts anticipate that Nuvalent, Inc. will post -3.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NUVL shares. Canaccord Genuity Group started coverage on shares of Nuvalent in a research note on Wednesday, November 12th. They set a “buy” rating and a $126.00 target price for the company. Cantor Fitzgerald began coverage on Nuvalent in a research report on Wednesday, October 15th. They set an “overweight” rating and a $135.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research note on Wednesday, October 8th. Robert W. Baird upped their price target on Nuvalent from $112.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Finally, Raymond James Financial started coverage on Nuvalent in a report on Tuesday, September 2nd. They set an “outperform” rating and a $105.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $137.86.

Insider Activity at Nuvalent

In other Nuvalent news, insider Deborah Ann Miller sold 24,200 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $105.50, for a total value of $2,553,100.00. Following the completion of the transaction, the insider directly owned 49,086 shares of the company’s stock, valued at approximately $5,178,573. This trade represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alexandra Balcom sold 20,000 shares of Nuvalent stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $88.51, for a total transaction of $1,770,200.00. Following the sale, the chief financial officer owned 61,734 shares of the company’s stock, valued at approximately $5,464,076.34. The trade was a 24.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,037,349 shares of company stock valued at $98,605,017 in the last ninety days. Company insiders own 10.20% of the company’s stock.

About Nuvalent

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.